Geode Capital Management LLC Buys 40,733 Shares of OGE Energy Corp. (NYSE:OGE)

Geode Capital Management LLC increased its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,349,471 shares of the utilities provider's stock after purchasing an additional 40,733 shares during the quarter. Geode Capital Management LLC owned 1.67% of OGE Energy worth $137,433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OGE. V Square Quantitative Management LLC purchased a new position in OGE Energy during the third quarter worth about $30,000. Kimelman & Baird LLC purchased a new position in OGE Energy during the second quarter worth approximately $38,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider's stock valued at $53,000 after purchasing an additional 278 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of OGE Energy during the 3rd quarter valued at $63,000. Finally, Signaturefd LLC increased its holdings in shares of OGE Energy by 21.6% during the 2nd quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider's stock worth $91,000 after buying an additional 452 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Insider Buying and Selling at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

OGE has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They set a "buy" rating and a $46.00 price target on the stock. Barclays boosted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, OGE Energy presently has a consensus rating of "Hold" and an average target price of $40.50.

OGE Energy Stock Down 0.2 %

OGE traded down $0.10 on Tuesday, reaching $41.78. 1,022,075 shares of the company traded hands, compared to its average volume of 1,269,387. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 3.80 and a beta of 0.77. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The stock's 50 day moving average price is $41.85 and its 200-day moving average price is $39.45. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $44.41.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm earned $1.20 earnings per share. OGE Energy's revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 4.03%. OGE Energy's dividend payout ratio (DPR) is presently 87.05%.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.